Bank of Montreal (NYSE:BMO) is DORCHESTER WEALTH MANAGEMENT Co's 5th Largest Position

DORCHESTER WEALTH MANAGEMENT Co increased its stake in Bank of Montreal (NYSE:BMO - Free Report) TSE: BMO by 3.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 182,675 shares of the bank's stock after purchasing an additional 6,343 shares during the period. Bank of Montreal accounts for about 2.9% of DORCHESTER WEALTH MANAGEMENT Co's portfolio, making the stock its 5th largest position. DORCHESTER WEALTH MANAGEMENT Co's holdings in Bank of Montreal were worth $16,384,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Bank of Montreal by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 28,617,952 shares of the bank's stock valued at $2,795,402,000 after acquiring an additional 544,767 shares during the period. National Bank of Canada FI lifted its stake in Bank of Montreal by 4.9% during the 2nd quarter. National Bank of Canada FI now owns 14,761,836 shares of the bank's stock valued at $1,231,564,000 after acquiring an additional 692,049 shares during the period. 1832 Asset Management L.P. lifted its stake in Bank of Montreal by 6.8% during the 2nd quarter. 1832 Asset Management L.P. now owns 7,312,320 shares of the bank's stock valued at $613,138,000 after acquiring an additional 463,924 shares during the period. JARISLOWSKY FRASER Ltd lifted its stake in Bank of Montreal by 36.9% during the 2nd quarter. JARISLOWSKY FRASER Ltd now owns 5,239,662 shares of the bank's stock valued at $439,705,000 after acquiring an additional 1,412,532 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Bank of Montreal by 138.4% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,851,629 shares of the bank's stock valued at $407,282,000 after acquiring an additional 2,816,385 shares during the period. 45.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BMO. Jefferies Financial Group cut shares of Bank of Montreal from a "buy" rating to a "hold" rating in a research note on Tuesday, August 27th. StockNews.com cut shares of Bank of Montreal from a "hold" rating to a "sell" rating in a research note on Thursday, August 29th. Scotiabank cut shares of Bank of Montreal from a "sector outperform" rating to a "sector perform" rating and decreased their target price for the company from $123.00 to $112.00 in a research note on Wednesday, August 28th. UBS Group began coverage on shares of Bank of Montreal in a research note on Tuesday, July 2nd. They issued a "neutral" rating for the company. Finally, TD Securities cut shares of Bank of Montreal from a "buy" rating to a "hold" rating in a research note on Tuesday, August 27th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $119.75.

Bank of Montreal Price Performance

NYSE BMO traded up $0.06 on Thursday, hitting $93.39. The company had a trading volume of 942,068 shares, compared to its average volume of 886,092. The company has a market capitalization of $68.11 billion, a PE ratio of 15.51, a PEG ratio of 2.47 and a beta of 1.11. The company's fifty day moving average price is $88.17 and its 200-day moving average price is $88.19. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.98 and a quick ratio of 0.98. Bank of Montreal has a 12-month low of $73.98 and a 12-month high of $100.12.

Bank of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last issued its quarterly earnings results on Tuesday, August 27th. The bank reported $2.64 EPS for the quarter, missing the consensus estimate of $2.76 by ($0.12). Bank of Montreal had a return on equity of 11.23% and a net margin of 8.50%. The company had revenue of $8.21 billion during the quarter, compared to analysts' expectations of $8.25 billion. During the same period in the previous year, the firm posted $2.08 EPS. Bank of Montreal's revenue was up .2% compared to the same quarter last year. As a group, analysts predict that Bank of Montreal will post 8.06 earnings per share for the current year.

Bank of Montreal Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Wednesday, October 30th will be issued a dividend of $1.123 per share. This represents a $4.49 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date is Wednesday, October 30th. Bank of Montreal's payout ratio is 76.08%.

Bank of Montreal Company Profile

Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company's personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.